Eroski, Mallorca.

Eroski, Mallorca.

29-03-2021Ultima Hora

Eroski has a new investment partner in the Balearic Islands, Czech billionaire Daniel Křetínský who is also a major shareholder in J. Sainsbury PLC. The company has confirmed that all employees will keep their jobs, which Eroski Director in the Balearic Islands, Alfredo Herraez said was “fundamental.”

Eroski has struck a partnership agreement with investment holding company EP Corporate Group from the Czech Republic, which includes its businesses in the Balearics and Catalonia. Eroski in the Balearic Islands is part of Cecosa Supermercados, which is part of Supratuc 2020.

Eroski has been searching for a partner since the end of 2019 to strengthening the financial structure of the group and its position in the Communities.

“This is the best option possible and customers will hardly notice the changes,” said Herraez, who stressed that Eroski will maintain its commitment to local products and suppliers.

The partnership deal means Eroski will be able to repay 315 million euros worth of debt at end of 2021 and relaunch investments and activity.

Eroski has a commercial network of 107 supermarkets and 72 franchisees in the Balearic Islands and employs 2,500 people.

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